Lithium Australia Increases Stake in Envirostream
THE BOURSE WHISPERER: Lithium Australia (ASX: LIT) has increased its interest in Envirostream Australia Pty Ltd from 18.9 to 23.9 per cent.
Lithium Australia said the $100,000 investment greatly enhances its exposure to the process of collecting and separating spent lithium-ion batteries (LIBs), a fundamental precursor to the recycling of battery chemicals.
LIT has already, at laboratory scale, successfully recovered metals from separated batteries, used the lithium so retrieved to regenerate cathode materials and, from those materials, manufactured coin-cell LIBs, testing of which vindicated the company’s aim of closing the loop on the energy-metal cycle.
Lithium Australia explained that EA is the only company in Australia with the integrated capacity to collect, sort, shred and separate all the components of LIBs, including the lithium.
The company highlighted EA’s infrastructure, saying it is essential to developing an environmentally responsible solution to the mounting problems spent LIBs represent.
EA’s collection and physical processing/separation of spent battery components makes for a perfect fit with LIT’s recycling R&D.
Lithium Australia anticipates its expanded equity in EA, and acceleration of its R&D program will contribute to the restructuring of the recycling business to best amalgamate the capabilities of both entities.
In recycling spent LIBs, we hope to meet the ethical, social and governance standards the community has grown to expect,” Lithium Australia managing director Adrian Griffin said in the company’s announcement to the Australian Securities Exchange.
“The world’s capacity to deal with climate change is also bolstered by the resulting improvements in resource sustainability and reductions in the environmental footprint of portable power.
“Our further investment in recycling in general, and EA in particular, therefore represents a tremendous opportunity for the company.”
Email: info@lithium-au.com
Web: www.lithium-au.com
